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Updated over 7 years ago on . Most recent reply

Zev Dobuler's profile image
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Zev Dobuler
  • from Modiin, Israel
  • Member since Jun 3, 2017
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Zev Dobuler's profile image
Zev Dobuler's profile image
Zev Dobuler
  • from Modiin, Israel
  • Member since Jun 3, 2017
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Zev Dobuler
  • Modiin, Israel
4
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Insurance

Rental property insurance. Replacement or purchase + rehab costs?

Zev Dobuler
  • Modiin, Israel
Posted

I’m purchasing rental properties in Rochester NY but this is a pretty generic question for all locations. What are most investors insuring their rental properties for? Replacement costs or purchase price + rehab + closing costs or something else?

Thanks!

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Antoine Martel's profile image
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Antoine Martel
  • Rental Property Investor
  • from Miami, FL
  • Member since Aug 23, 2017
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Antoine Martel
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  • from Miami, FL
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Antoine Martel
  • Rental Property Investor
  • Miami, FL
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Antoine Martel
  • Rental Property Investor
  • Miami, FL
Replied

Many insurance companies will want insurance based on replacement costs. Check with your insurance company and see what they want. If they do not care then I normally choose the cheapest option.

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